ATCHISON, Kansas — Among corporate America’s most persistent shareholder activists are 80 nuns in a monastery outside Kansas City.
They invest what little they have in corporations that match their religious ideals, but also keep a bit in some that don’t, so they can push those companies to change policies they view as harmful. Faith-based shareholder activism is often traced to the early 1970s, when religious groups put forth resolutions for American companies to withdraw from South Africa over apartheid.
The resolutions rarely pass, and even if they do, they’re usually non-binding. But they’re still an educational tool and a means to raise awareness inside a corporation. The Benedictine sisters have watched over the years as support for some of their resolutions has gone from low single digits to 30% or even a majority.It’s a form of protest, which comes naturally to McCracken, the longtime peace activist who submits the Kansas nuns’ resolutions.
“To me, it’s a continuation of Catholic social teaching,” McCracken said of their activist investing. “Living according to the gospel ... it’s going to intersect with politics and economics both,” McCracken said. “It’s just the nature of being an active citizen.”